This chapter analyses the phenomenon of trust with regard to its significance for virtual teams. Guided by the existing literature on trust, this chapter presents different kinds of trust and the development of trust over time. The challenges inherent to virtual multicultural teams, thus to working teams, which are geographically dispersed and communicate with the help of electronic media, raise the questions of their consequences on trust. As virtual teams are mostly used in companies operating in different countries all over the world, the different cultural backgrounds of the team members are taken into account as well. To give an example for the relevance of this issue in practice, an illustrative case study on experiences international business students have made during virtual team projects is presented.